Tourneau To Be Purchased by Investor Group


September 6, 2006

Tourneau To Be Purchased by Investor Group

Watch retailer Tourneau Inc. will be purchased by an investor group for more than $300 million, according to business reports today.

The group is led by Green Equity Investors IV and includes members of Tourneau's senior management, reports Kiplinger's. The deal will close in October.

Tourneau CEO Robert Wexler will become chairman, and Howard Levitt will remain in place as president and also take on the title of CEO. The rest of the company's executive team will stay in place.



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